Ascent Industries Co. (NASDAQ:ACNT) Short Interest Update

Ascent Industries Co. (NASDAQ:ACNT) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 11,900 shares, an increase of 32.2% from the November 15th total of 9,000 shares. Based on an average trading volume of 61,400 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Ascent Industries Stock Down 2.1 %

NASDAQ ACNT opened at $11.62 on Friday. Ascent Industries has a 1 year low of $7.20 and a 1 year high of $12.38. The stock has a market capitalization of $117.28 million, a PE ratio of -69.82 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 1.81. The business’s 50-day moving average is $10.08 and its 200 day moving average is $9.96.

Insider Activity

In other Ascent Industries news, insider Privet Fund Management Llc sold 1,665,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $8.22, for a total value of $13,686,300.00. Following the sale, the insider now owns 8,648 shares of the company’s stock, valued at $71,086.56. This trade represents a 99.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Bryan Kitchen acquired 11,170 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was purchased at an average price of $8.61 per share, for a total transaction of $96,173.70. Following the transaction, the chief executive officer now directly owns 50,841 shares of the company’s stock, valued at approximately $437,741.01. This trade represents a 28.16 % increase in their position. The disclosure for this purchase can be found here. 12.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ascent Industries

A number of large investors have recently made changes to their positions in the business. De Lisle Partners LLP raised its holdings in shares of Ascent Industries by 5.5% during the third quarter. De Lisle Partners LLP now owns 197,824 shares of the company’s stock valued at $1,914,000 after acquiring an additional 10,349 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Ascent Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 42,644 shares of the company’s stock valued at $414,000 after purchasing an additional 2,144 shares in the last quarter. Values Added Financial LLC bought a new stake in shares of Ascent Industries during the third quarter valued at approximately $133,000. Essex Investment Management Co. LLC purchased a new stake in Ascent Industries in the third quarter worth $132,000. Finally, Vanguard Group Inc. raised its holdings in Ascent Industries by 4.3% in the first quarter. Vanguard Group Inc. now owns 256,736 shares of the company’s stock worth $2,616,000 after purchasing an additional 10,688 shares in the last quarter. 26.05% of the stock is currently owned by institutional investors.

About Ascent Industries

Ascent Industries Co an industrials company, produces and distributes stainless steel pipe and tube and specialty chemicals in the United States and internationally. The company operates through two segments, Tubular Products and Specialty Chemicals. It manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and ornamental stainless steel tubes for automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries.